In November, Germany’s industrial production fell unexpectedly

According to Destatis, industrial production is down 0.6% monthly and 4.8% yearly.

Germany’s industrial production fell monthly and annually in November 2023, disappointing market expectations for good results.

Industrial production fell 0.7% month on month and 4.8% year on year in November, marking the country’s official statistical bureau Destatis’ sixth straight month of decrease.

Industrial production fell 0.3% on a monthly basis and 3.4% year on year in October.

“In November 2023, production in industry excluding energy and construction was down 0.5% from October 2023 after seasonal and calendar adjustment,” Destatis stated in a statement.

Capital goods production fell 0.7%, intermediate goods 0.5%, and consumer goods 0.1% in the same month, according to the report.

However, energy production increased by 3.9% in November.

According to the data office, “construction production fell by 2.9% from the previous month.”